How to raise credit score with Credit Cards???

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My credit score just jumped from 583 up to 640 in 30 days because I just payed off an old debt and it was a pay to delete agreement so it was completely deleted from my credit report. yay! I'm on my way!!!

Now, I'm focusing on using the credit I already have to help raise my credit from here on out. I have 2 credit is an Express store card $250 limit, and one is a Discover card $300 limit.

I have only had my Discover card for about 6 months, and have used it every month (sometimes to the limit) but I pay it off COMPLETELY every month. My Express store card I have only used 2 or 3 times, and I've only had it for maybe 5 months, but have not used it at all in 3 MONTHS!

My question is, how should I be using these cards for the sole purpose of raising my score?

I have heard that spending too little doesn't help, but spending too much isn't good either...does it really lower my score when I max out my card BUT pay it off completely when the bill comes?

ALSO, I called my Discover Card comp. and they said that they report to the all 3 credit bureaus every single month on the 10th-does that mean that I should pay my bill BEFORE the 10th to have a $0 balance, or will that hurt my score because it will look like I'm not using my card at all?? So confused!

After I begin using my cards correctly, how soon will my score begin to rise and how much will it go up? I just thought improving my revolving debt would help improve my score more than anything I could do at this point, and also because it's one of the big factors in how credit is calculated..I read.

So confused, I just want to learn how to use my credit cards correctly. Any insight would be much appreciated! Thanks in advance =)




  1. Basic rule to improve credit scores with credit cards...keep balances low and pay more than is the minimum and pay on time! End of story!

  2. The only way to raise your credit score is to borrow money and make payments on time. The only way to keep a high score is to keep borrowing money and keep making payments on time. It brings you nothing but debt as you well know. Why would you wanna play the game again? You just got out.

    Cancel all the cards and stop worshiping the almighty fico score.

    Debt free is the way to be.  

  3. Congratulations! Looks like you are doing things right, but your credit seems to be low.

    Are you a member of a credit union? If not, I think you should definitely take membership in a credit union and then get a credit card from them. You will get a credit limit much higher than what you have now. That will make your overall credit higher.

    After that spend about 30 - 40% on your overall credit and then keep paying it off in full. That way your credit : debt ratio will also be solid. Your score will go up that way.

  4. You should try to never exceed 30% of your credit limit in any given month.  This will really help to boost your credit score.  As long as you keep the balance due under 30%, it really doesn't matter when you pay - just that you pay on time always, always, always.  You should check to see whether Express reports to the credit agencies.  If it does, try to use it occasionally and always pay it on time.  You also might want to get copies of your credit report from all three agencies (you are legally entitled to one free credit report per year from each of them - to see what's on them and to see which utilities are reporting.  Pay those on time - always.

    In about 6 months, you might want to ask Discover for an increase in your credit limit.

    Good luck.

  5. It is better to pay early than to pay late because, if you pay early they are still going to report it that you paid on time. If you pay late even one day, then they will report that you paid late.

    Personally, if you REALLY want to use credit cards, I would choose one and use only that one and pay it off on time. Also, remember that things like Rent, all utility bills including cell phone and cable bills are also reported to the different credit reporting agencies so, paying these on time will also raise your credit score. But, here is the rub...if you are late with those bills even only one time credit card companies can use that as the basis to raise your interest rate.

    What makes your credit score go up is when more credit is extended to you. Your credit score is a ratio really of how much credit to how much debt you have. The reason, I would not have more than one card (if at all) is that if you get lots of cards . I think the possibility of someone stealing your number goes up and it gives you a false sense of security.

    Just pay ALL of your bills and debts off on time and your rating will follow suit.

  6. Congratulations on the pay for delete.

    The way you are currently using your credit will help increase you score. The key is 1) Make your payments on time 2) To payoff your balance at the end of each month 3) Charge less than your credit limit.

  7. As a result of the recent foreclosure crisis, the old credit reporting ways have been revised. It is rue that you want your outstanding balalce to show 33% or less of your availabe credit.  Example-your Discover card with 500 available credit should never report a balance of more than 165.  You should see your scores increase an average of 8 points per month if you follow this simple guideline.  I suggest asking for credit line increases as often as they will allow, then do NOT use the additional credit amount.

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